Sify Infinit Spaces Limited’s maiden Non-Convertible Debentures Fully Subscribed on Listing
Sify Infinit Spaces Limited, a wholly owned subsidiary of Nasdaq listed Sify Technologies Limited, today announced the listing of its first market offering in the form of Listed, Secured, Redeemable, Non-Convertible Debentures. The issue aggregating to INR 250,00,00,000 was fully subscribed.
The Company’s 15-year bonds were subscribed by the Investors at a coupon rate of 8.95%.
The NCD is rated as AA- (Double A minus) by CARE. The company also announced the listing of the NCDs on the Bombay Stock Exchange at close of market Friday, October 04, 2024.
The debentures are secured by the Moveable Fixed Assets and Receivables pertaining to specific Data Centers. The proceeds from the issue have been used to repay the outstanding Bank Term loans against them.
M/s India Infradebt anchored the issue and subscribed with INR 75 Crores. Kotak Infrastructure Debt Fund and NIIF Infrastructure Finance Limited have subscribed INR 140 Crores and INR 35 Crores respectively.
Trust Group was the sole arranger of the abovesaid issue.
Ganesh Sankararaman, Head – Group Corporate Finance, Sify said, “The successful market listing is a critical external validation. It shows our bankers and institutional investors trust in our roadmap and the confidence in our abilities to become India’s leading AI-ready colocation services provider”.
